The writing is on the all for a Music NFT tipping point.
With the launch of Sound Protocol, composability is about to see a bump as anyone can deploy a Music NFT song contract for less than $10.
While it’s not quite open to the public, artists like Reo Cragun are demonstrating the potential with his new EP Frameworks - a 5-track project that lives on Sound and reocragun.xyz at the same time.
This comes on the back of Hume announcing a whopping $11.7M Series A - a very strong signal for metastars like Angelbaby and the next generation of virtual artists.
New funding is flowing into web3 music.
Arpeggi and RELICS announced rounds this week - both of which I was lucky to be involved as an angel (Arpeggi) and as Coop Records (RELICS).
While it’s a small signal, we’re moving away from the experimentation phase to the maturity phase. Companies are taking their products and communities to the next level - a different tone from the last 6 months where everyone was taking their best guess as to what would stick.
Coop Records is live.
It’s something I’ve been working on for the better half of the last 6 months, and on this week’s edition - I’m excited to unpack what this means.
First and foremost - Coop Records is not a record label. At least in the traditional sense.
Web3 music is a positive sum game.
The more you give, the more you get.
In today’s game - the more you show up for others, the more people show up for you.
This week saw a number of collaborations amongst leading voices in the space.
Something felt different this week.
The tides are turning and the music industry is waking up to web3.
Fresh off a major Billboard article, I sat down with Daniel Allan live in LA to talk through what it means to be a web3 artist. You can read about it here.
We kicked off the Music NFT Launchpad this week - starting the first of four weeks for the first cohort of artists gearing up to release their first Music NFT.
The Music NFT community is expanding.
This week alone - we saw LA meetups from SongCamp, Water & Music, Venice and Quantum.
Discord events are popping up - best highlighted by Sound’s second artist showcase and a newly announced Catalog Cook Off.
Music NFTs became the topic of conversation around how artists should monetize using web3 today.
To summarize - a series of Tweets spurred dialog from prominent founder, trader, and investor Cobie around the viability of Music NFTs.
This sparked a wider surge of opinions from the web3 community on Music NFTs.
Community curation is coming into the picture.
Whether you’re a new artist, an emerging act or someone with an existing following - there’s a curator for you.
This week I announced the Music NFT Launchpad - a way for creators new to web3 to mint their first Music NFT. If you know someone who would be a good fit, please have them apply here.
It’s not about Drake.
It’s about the next Drake.
Music NFTs will have their moment. But it probably won’t be in the way that you think.
Your favorite artist (today) probably won’t start minting Music NFTs anytime soon.
Music NFTs are gaining momentum.
From Daniel Allan’s Glass House to Hume’s Genesis Pass, this past week saw two sold out drops that moved the needle.
There’s a new wave of web3 artists in town.
It’s a big week for Music NFT collectors.
Drops are back in full swing, with leading artists releasing free and affordable mints left and right thanks in large part to Sound enabling self-uploading.
Last week, we saw sold out drops from Reo Cragun, Ben Kessler, Peter Saputo, So Tuff So Cute and KINGSHIP - just to name a few.
This week - I’m gearing up for Daniel Allan’s Glass House, a 1000 edition drop featuring a unique rarity schema to debut his new EP.
July is shaping up to be a pivotal month for Music NFTs.
With major platform upgrades, premier artist drops and key membership passes - the ecosystem is quietly finding its footing.
I published a post on web3 labels, giving an overview on what a record deals looks like and who the major players are to keep in mind.
Minting behaviors are changing.
High stigmas around “dropping” Music NFTs are shifting as more artists are minting with less pressure.
The most concrete examples are free and affordable mints on Zora’s new edition platform - highlighted by artists like Mija, Reo Cragun, Peter Saputo and Alec King.
Music NFT culture is alive and well.
NFT NYC was full of music-focused events, with my personal highlights being the Music NFT Movement, wavWRLD, Music3, Venice, Culture Re-Mixer, CC0 Mixtape and Zoratopia.
If you made it out to the Music NFT Movement - please DM me to claim a limited POAP from the event!
NFT NYC.
You’re probably here.
If you’re not - you know someone who is.
Today is the second annual Music NFT Movement.
The market is… not great.
As someone who built their career during the bear market of 2018 - I promise there is a world of opportunity ahead.
If you’re an artist, map out your survival plan. Recognize that it’s harder than ever to sell a Music NFT for 0.1 ETH.
If you’re a collector, recognize you won’t see a return on your Music NFTs for a very long time, if ever.
Do people care about Music NFTs?
If you’re reading this, you’re one of the few who *probably* does.
What’s being built is far from widespread, and far from revolutionary.
It’s a new pocket of culture, and one that’s not for everyone (yet).
Music NFT rarity has entered the equation.
Generative music has been gaining momentum, with both Beat Foundry and SoundMint premiering big drops from Daniel Allan and Kaien Cruz, respectfully.
Metastars are coming to fruition, as RŌHKI revealed their first Episode and Angelbaby teased new Music NFTs leading up to a Hume Genesis Pass.
Music NFT summer is here.
Viral moments are being tokenized.
Independent artists are pushing boundaries.
The writing is on the wall - but one question remains.
It’s time for Music NFTs to have a viral moment.
With the space’s biggest drops right around the corner, it’s time to see if Music NFTs have what it takes to capture the attention of both NFT collectors and mainstream fans alike.
My take is we need NFT collectors before we get everyday fans.
Music NFT Summer is coming.
Despite a violent week in the wider crypto market, Music NFT projects are gearing up for their most ambitious mints to date.
Over the course of the next few weeks, we’re going to start to see if Music NFTs really have what it takes to weather a turbulent market.
I took to Twitter to find out - what will it take for the everyday NFT buyer to give Music NFTs a shot?
It was a rough week for Music NFTs.
Collector demand staggered with the cooldown of the rest of the NFT market.
Music NFTs are still waiting for that breakout moment, and until then - many top NFT collectors are still waiting on the sideline.
Momentum.
Music NFTs are seeing a steady increase in headlines, conversations, artists and collectors diving into web3’s fastest growing sector.
I’m working on a refresh of the Music NFT Landscape, and since it was published in January there are more than 50 new projects being added to the mix.
This week’s edition comes late on a Monday night fresh off Coachella.
Being immersed in the heart of music culture, it’s easy to see why this sector is so ripe for adoption.
At the end of the day - Music NFTs create connections among fans.
Our job is to empower those who make them, and to support those who see a future worth championing.
It’s Music NFT drop season.
As the sector seeks its inflection point, expect the drops to ramp up.
Whereas being early used to be most important, now it’s time for curation.
That means the best music, the best economics, and the best communities.
The Music NFT community is taking shape.
From IRL events at NFT LA to recurring digital social spaces - the growing sector is finding its roots.
While it was a slow week by headline standards, it’s evident that a rising generation of artists and collectors are starting to see the vision.
From mentions of Sound.xyz or Royal at every dinner to challenges from Crypto Twitter, the emerging sector is a consistent topic of discussion.
Music NFTs.
The trending topic on Crypto Twitter has everyone wondering why.
Whether it’s Diplo announcing his first Music NFT drop, Sound starting Season Two or a growing secondary market - the writing is on the wall.
Music NFTs are popping up IRL.
From ZORATOPIA at SXSW to AfterParty in Vegas this weekend, there’s a growing recognition of the role music is playing in web3 culture.
TK went viral for getting a bid during their set - planting a seed for how Music NFTs can interact with concerts in the future.
Welcome to This Week in Music NFTs!
This is your weekly recap of the intersection of web3 and music curated by yours truly, Coopahtroopa.
Here’s what to expect:
- Published every Monday.
- Lives here on Mirror, but includes an email subscription.
- Free to subscribe, tips appreciated!
- Should take no more than 5 minutes to read.